Conan O'Brien and NBC have officially reached a settlement. Conan is getting an even better deal than originally reported. According to TMZ, the settlement has reached $45 million and the mitigation clause has been removed. Conan will get $32.5 million severance pay, regardless if he takes another job or not.
Another $7.5 million will go to the "Tonight Show" employees, and a staggering $4.5 million to the executive producer.
Conan's farewell show will be Friday. Guests will include Tom Hanks and Will Ferrell, with a musical performance by Niel Young. Don't miss it!